Man Industries Reports Robust Performance
“Revenue at ₹15536 Million in 9MFY21 with a robust EBITDA margin of 11.4%”
Man Industries (India) Limited reports Financial Results:
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Mumbai, January 21, 2021: MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing company, has announced its unaudited financial results for the Quarter and Nine Months ended December 31st, 2020. The company reported Total Revenue of ₹5,484 Million in Q3FY21 a growth of 1.4% on a YoY basis. EBITDA stood at ₹613 Million with an EBITDA Margin of 11.2%. PAT for the quarter stood at ₹306 Million, a growth of 4.3% YoY, with a PAT Margin of 5.6%.
Total revenue in 9MFY21 stood at ₹15,536 Million, a growth of 40.6% YoY compared to the same period last year. EBITDA stood at ₹1,769 Million, a growth of 29.1% YoY with an EBITDA margin of 11.4%. PAT stood at ₹750 Million, a growth of 74.3% YoY, with a PAT Margin of 4.8%.
The unexecuted order book as on date stands at ~₹12,000 Million, to be executed in the next 5 to 6 months. The company continues to have a robust book of outstanding bids for more than ~₹1,90,000 Million at various stages of evaluation for several Oil, Gas and Water projects in India and abroad. The company therefore expects good order inflow in near future.
Commenting upon the performance and future outlook of the Company, Dr. R.C. Mansukhani, Chairman said, “We are happy to announce a steady performance for the quarter despite the uncertainties created by the pandemic. We have closed the quarter with a healthy orderbook of ~₹12,000 Million and have a strong bid book visibility. Opportunities in the oil and gas sector remain positive on account of stabilizing oil demand and resumption of drilling activities globally. Government’s aim to increase the share of Natural Gas in the country’s energy mix and make India a Gas-based economy will provide ample opportunities for the Company. We are seeing traction in the Oil & Gas industry domestically as well as globally. The long-term prospects in the water pipeline sector are also expected to remain robust due to various Government initiatives.”